15th Dec 2025 11:20
(Alliance News) - Safilo Group Spa on Monday said it does not intend to make a takeover offer for Inspecs Group PLC, after Inspecs accepted an offer from a vehicle of entrepreneurs Luke Johnson, chair of private equity house Risk Capital Partners LLP, and Ian Livingstone.
Inspecs on Friday last week said it has agreed to a proposed acquisition by acquisition vehicle Bidco 1125 Ltd, which values the Bath, England-based eyewear firm at GBP85.4 million.
The offer will see shareholders receive 84 pence in cash per share, more than double the 40.5p closing price on October 22, the day before the possible offer was announced. Inspecs shares were flat at 82.00p on Monday morning in London.
Inspecs said its board has unanimously recommended the acquisition. Directors who together control around 19% of the company's shares have committed to vote in favour of the scheme.
Following its announcement on Monday, Safilo, an Italian eyewear group, said it is now bound by UK takeover code rules that prohibit it from considering a bid for Inspecs for six months, except in certain circumstances.
By Roya Shahidi, Alliance News reporter
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